BTr fully awards P35-B 10-year T-bonds

On Tuesday, the Bureau of the Treasury fully awarded P35 billion in 10-year Treasury bonds due to strong demand and a lower rate than the secondary market.

The coupon rate for the bonds was set at 4.875%, higher than previous auctions but still below the secondary market rate of 4.8795%.

Total tenders reached P72.24 billion, more than double the initial offer volume.

National Treasurer Rosalia de Leon attributed investors' confidence to assurances from BSP Governor Benjamin Diokno that interest rates will not rise until economic recovery is solid.